Secretary for Development Carrie Lam says the Government will not sell land below market prices and will continue to implement the Application List system to allow the market to decide the new land supply.

Speaking on a radio talk show this morning, she said although some people asked the Government to make it easier for developers to trigger a site for auction, there is no plan to change the existing mechanism.

Noting land sales are one of the Government's land-revenue sources, Mrs Lam said land exchange and lease modification transactions also generate revenue.

Although only one Government lot has been sold so far this financial year, the Government land revenue accumulated so far this fiscal year has reached $10 billion.

When asked whether this year's total land revenue can reach $40 billion as predicted in the Budget, she said it is difficult to estimate because the figure will be affected by changes in the global economic environment and investment sentiment.

Infrastructure investment

Although the financial tsunami has affected every sector, the Government will do its best to identify more investment opportunities in infrastructure projects.

In the previous legislative year, lawmakers approved 81 infrastructure projects worth over $40 billion. About 100 projects will be tabled to legislators for approval in this legislative year.

Mrs Lam hoped these projects will create more job opportunities and relieve the employment problem in the construction sector.